AUSTIN, Texas, Nov. 14, 2017 — Summit Hotel Properties, Inc. (NYSE: INN) ("Summit" or the "Company") today announced that Gregory A. Dowell, its EVP and Chief Financial Officer, plans to retire from the Company on March 31, 2018. Mr. Dowell has been with Summit for over three years and has led the Company's finance and accounting functions through periods of substantial growth and improvement. He has played a key role in the long-term succession planning for the Company and will continue to work closely with his successor during the upcoming transition period.
Mr. Dowell said, "The past three years have been professionally rewarding and personally gratifying. It has been a privilege to be a part of such a dedicated and cohesive team. I am confident in this team and their ability to continue to create value for shareholders."
Jonathan P. Stanner, EVP and Chief Investment Officer, will succeed Mr. Dowell as EVP and Chief Financial Officer, effective March 31, 2018. Mr. Stanner joined the Company in April 2017 and has become an integral member of the management team. Prior to joining Summit, he held various positions at Strategic Hotels and Resorts, including the role of CFO. Mr. Stanner will continue to oversee the Company's investment activities following the transition.
Daniel P. Hansen, the Company's Chairman, President and Chief Executive Officer, noted, "I am proud of all that we have accomplished at Summit during Greg's tenure and appreciate his tremendous efforts in elevating our finance organization. I am confident that Jon will continue to build on these accomplishments and I look forward to working closely with them both to ensure a successful and seamless transition."
